2900 Marconi Avenue
2900 Marconi Avenue Sacramento, California 95821 United States

$6,900,000
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Morris Apartments is a 40-unit apartment complex built in 1953 with a mix of one- and two-bedrooms units. The apartment community has assigned parking, two on-site laundry facilities, and an on-site swimming pool. The subject property is an...
$6,900,000
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54,886 Sq Ft.
Interior
1.26 Acres
Exterior
Single Family Homes
Property type
1953
Year Built
223002959
Web Id
223002959
MLS ID
San Juan Unified
School District
23
days ago

About 2900 Marconi Avenue

Morris Apartments is a 40-unit apartment complex built in 1953 with a mix of one- and two-bedrooms units. The apartment community has assigned parking, two on-site laundry facilities, and an on-site swimming pool. The subject property is an excellent opportunity to acquire a well-kept true value-add apartment complex in the thriving submarket of Arden-Arcade. A new owner can reposition the complex with some minor or extensive updates to maximize the rental income at the property. Average rents at the complex for one-bedroom units are $1,110 while new leases in the area are renting for $1,395 per month with $35 RUBs included. The two-bedroom units are also under rented at an average of $1315 where other similar units, in less desirable areas, of Sacramento are renting for upward of $1,600 per month. Please contact listing agent for a full marketing package with income and expense information.

Listing Courtesy of Collier's International CA, Inc.

features

Style
Traditional

PROPERTY INFORMATION

Cooling
Ceiling Fan(s), Wall Unit(s)
Heating
Wall Furnace
Parking Description
Off Street
Water
Public

EXTERIOR

Lot Description
Other

INTERIOR

Flooring
Carpet, Laminate, Vinyl, Linoleum
Listing Courtesy of Collier's International CA, Inc.

METROLIST MLS

Listing Courtesy of Collier's International CA, Inc.
Contact Agent